IRIS Accounts Production v23.1.5.20 06936216 director 1.7.22 30.6.23 30.6.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure069362162022-06-30069362162023-06-30069362162022-07-012023-06-30069362162021-06-30069362162021-07-012022-06-30069362162022-06-3006936216ns16:EnglandWales2022-07-012023-06-3006936216ns15:PoundSterling2022-07-012023-06-3006936216ns11:Director12022-07-012023-06-3006936216ns11:PrivateLimitedCompanyLtd2022-07-012023-06-3006936216ns11:SmallEntities2022-07-012023-06-3006936216ns11:AuditExempt-NoAccountantsReport2022-07-012023-06-3006936216ns11:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3006936216ns11:SmallCompaniesRegimeForAccounts2022-07-012023-06-3006936216ns11:FullAccounts2022-07-012023-06-3006936216ns11:OrdinaryShareClass12022-07-012023-06-3006936216ns11:CompanySecretary12022-07-012023-06-3006936216ns11:RegisteredOffice2022-07-012023-06-3006936216ns6:CurrentFinancialInstruments2023-06-3006936216ns6:CurrentFinancialInstruments2022-06-3006936216ns6:Non-currentFinancialInstruments2023-06-3006936216ns6:Non-currentFinancialInstruments2022-06-3006936216ns6:ShareCapital2023-06-3006936216ns6:ShareCapital2022-06-3006936216ns6:RetainedEarningsAccumulatedLosses2023-06-3006936216ns6:RetainedEarningsAccumulatedLosses2022-06-3006936216ns6:PlantMachinery2022-07-012023-06-3006936216ns6:PlantMachinery2022-06-3006936216ns6:PlantMachinery2023-06-3006936216ns6:PlantMachinery2022-06-3006936216ns6:WithinOneYearns6:CurrentFinancialInstruments2023-06-3006936216ns6:WithinOneYearns6:CurrentFinancialInstruments2022-06-3006936216ns6:Non-currentFinancialInstruments2022-07-012023-06-3006936216ns11:OrdinaryShareClass12023-06-3006936216ns6:RetainedEarningsAccumulatedLosses2022-06-3006936216ns6:RetainedEarningsAccumulatedLosses2022-07-012023-06-30
REGISTERED NUMBER: 06936216 (England and Wales)















Fast Tex Limited

Financial Statements for the Year Ended 30 June 2023






Fast Tex Limited (Registered number: 06936216)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fast Tex Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: A Iqbal





SECRETARY: A Iqbal





REGISTERED OFFICE: Unit 4
White Hill Farm Church Lane
Remenham
Henley-On-thames
Oxfordshire
RG9 3EX





REGISTERED NUMBER: 06936216 (England and Wales)





ACCOUNTANTS: AS Associates
Chartered Certified Accountants
11A Empire Parade
Empire Way
Wembley
Middlesex
HA9 0RQ

Fast Tex Limited (Registered number: 06936216)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 37,253 13,711

CURRENT ASSETS
Stocks 716,645 708,952
Debtors 5 220,099 198,846
Cash at bank and in hand 2,613 2,360
939,357 910,158
CREDITORS
Amounts falling due within one year 6 508,196 422,996
NET CURRENT ASSETS 431,161 487,162
TOTAL ASSETS LESS CURRENT
LIABILITIES

468,414

500,873

CREDITORS
Amounts falling due after more than one
year

7

467,131

497,318
NET ASSETS 1,283 3,555

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 1,183 3,455
SHAREHOLDERS' FUNDS 1,283 3,555

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Fast Tex Limited (Registered number: 06936216)

Balance Sheet - continued
30 June 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 March 2024 and were signed by:





A Iqbal - Director


Fast Tex Limited (Registered number: 06936216)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Fast Tex Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 9 ) .

Fast Tex Limited (Registered number: 06936216)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 34,654
Additions 30,133
At 30 June 2023 64,787
DEPRECIATION
At 1 July 2022 20,943
Charge for year 6,591
At 30 June 2023 27,534
NET BOOK VALUE
At 30 June 2023 37,253
At 30 June 2022 13,711

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 137,569 56,777
Other debtors 82,530 142,069
220,099 198,846

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 44,909 23,784
Trade creditors 324,674 223,944
Taxation and social security 12,765 43,560
Other creditors 125,848 131,708
508,196 422,996

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans 215,646 245,833
Other creditors 251,485 251,485
467,131 497,318

£251,485 (2022: £251,485) is director's loan from Mr Asif Iqbal to company.

Fast Tex Limited (Registered number: 06936216)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
100 Ordinary 1 100 100

9. RESERVES
Retained
earnings
£   

At 1 July 2022 3,455
Profit for the year 728
Dividends (3,000 )
At 30 June 2023 1,183

10. ULTIMATE CONTROLLING PARTY

The controlling party is A Iqbal.